Kenyan economy braces for minor bruises amid U.S. economic slowdown

NAIROBI, Oct. 10 (Xinhua) -- Kenya's rapidly recovering economy has the strength to resist the impact of the economic slowdown in the United States and Europe but key sectors could be strangled, the Central Bank of Kenya (CBK) has warned. In its latest review of the market, the bank said key sectors of the economy are likely to feel the adverse effects of the slowdown in the United States and Europe but it might not have profound effects on the overall performance of the domestic economy. The country's apex bank has also termed as an issue of "critical importance" the economic downturn in the United States and Europe and called for urgent measures to forestall such negative developments that might eventually have impact on the local economy. The CBK's Monetary Policy committee said it is watching the crisis as an issue of... [read full story]